Central Banks Reduce US Dollar Holdings, Plan to Increase Chinese Yuan Exposure, Study Shows
A study by a $1.5 trillion asset management firm has revealed that central banks are reducing their U.S. dollar holdings while seeking to increase Chinese yuan holdings. “Central banks are diversifying currency holdings, stirred by geopolitical uncertainties and attractive opportunities in emerging markets,” the study shows. ’Central Banks Are Diversifying Currency Holdings’ Invesco, an asset…